The Notes are admitted to listing on the regulated market of the Irish Stock Exchange.

Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation together with Implementing Directive 2003/124/EC (as implemented in Ireland by the Market Abuse (Directive 2003/6/EC) Regulations 2005) requires disclosure of inside information relating to the Issuer.

Terms used and not defined herein shall have the meaning ascribed to them in the Prospectus related to the Notes dated 30 May 2007, the RIS Notification dated 22 December 2011 and the RIS Notification dated 9 January 2012 and the RIS Notification dated 19 June 2012 in relation to the Heron City Loan (the "Loan").

The Issuer, having been informed by the Issuer Special Representative, hereby gives notice of the following:

We hereby inform you that pursuant to negotiations with regards to the restructuring of the terms and conditions of the Loan, the Spanish Borrower, the Issuer, Société Générale as issuer of the Mortgage Transfer Certificate, and the asset manager, entered into a standstill agreement on 31st July 2012 (the "Standstill Agreement").

Pursuant to the Standstill Agreement the parties agreed, amongst other terms and conditions, to enter into two (2) successive standstill periods upon compliance with certain conditions. The first standstill periods ends on 31st December 2012 and, if the conditions precedent in the Standstill Agreement for the second standstill period are met, the second standstill period will become effective and will end on 30th September 2013.

For queries relating to the above, please contact the Issuer Special Representative at: investorrelations@hatfieldphilips.com.

This notice has been prepared by and issued at the request of the Spanish Loan Special Administrator. The Issuer has not independently verified the information contained in this notice. Accordingly, the Issuer hereby gives notice of the above with respect to the Loan.

Date:

Signature_____________________________________

ON BEHALF OF White Tower Europe 2007-1 plc

This announcement has been issued through the Companies Announcement Service of